European Equity pre-Market Summary – 13th October 2026: European bourses set for a slightly lower open; LVMH sales edge higher but Fashion & Leather Goods sales disappoint

Stories: AstraZeneca (AZN LN), +0.7%: Co. tells investors that they expect several high-value biopharmaceuticals and oncology catalysts over the next 12-18 months. STMicroelectronics (STMPA FP), -2.2%: Co. proposes the reappointment of Jean-Marc Chery as President and CEO, which Chery has accepted. Earnings: LVMH (MC FP), -0.3%: Reported a slight beat on its Q3'26 revenue, which came in at EUR 18.5bln (exp. 18.47bln), but saw significant pressure seen in Fashion & Leather Goods sales, which fell 5% vs expectations of a 1.57% decline. CFO said Q3 was marked by macro led challenges in China, the Middle East situation is still a headwind, and adds short-term cost-cutting will not increase sales. Publicis Groupe (PUB FP), -0.7%: Q3 Net Revenue at EUR 3.81bln (exp. 3.75bln) and confirmed its FY26 guidance. CEO said "Technology improved sequentially, with the US already back to growth and the business expected to turn positive globally in Q4". Givaudan (GIVN SW), +3.5%: Q3 Revenue at CHF 2.09bln (exp. 2.03bln), and LFL Sales topped expectations. Co. affirmed its 2030 targets, whilst also implementing price hikes to compensate for higher input costs. BP (BP/ LN): Reported Q3 Upstream Production of 2.19-2.23mln boepd (prev. 2.201mln boepd Q/Q). Co. expects post-tax impairments of 3.0-4.5bln, primarily in gas & low carbon energy M&A: BMPS (BMPS IM), Intesa Sanpaolo (ISP IM): BMPS says Intesa's new takeover offer has left investors exposed to several uncertainties, while forcing them to drop a possible alternative plan. Broker Moves: AstraZeneca (AZN LN): upgraded to Buy from Sell at Nordea NatWest (NWG LN), +1.2%: upgraded to Overweight from Equal Weight at Barclays LVMH (MC FP): reiterated with Buy at Goldman Sachs Societe Generale (GLE FP): upgraded to Market Perform from Underperform at Keefe Bruyette Maersk (MAERSKB DC): downgraded to Sell from Hold at SEB Pre-market levels via Tradegate